New Zealand: Mosman Oil and Gas preparing to test Crossroads-1AIM-listed Mosman Oil and Gas, the New Zealand and Australia focused oil exploration and development company, has provided an update on recent operational activity at Cross Roads-1. The Company has recompleted the well and installed the downhole pump and nodding donkey prior to flow testing.

Ghana: Tullow falls on worries legal dispute could delay Ghana projectTullow Oil lost over 200 million pounds ($308 million) of its market value on Monday, hit by concerns that a boundary dispute between Ivory Coast and Ghana could delay a project off the coast of West Africa. The Africa-focused firm is developing the TEN project off the coast of Ghana, in waters over which there is a maritime boundary dispute between Ghana and Ivory Coast.

Peru: Gran Tierra Energy halts development of its Bretana heavy oil field in PeruGran Tierra made the decision to cease all further development expenditures on the Bretaña field on Block 95 in Peru other than what is necessary to maintain tangible asset integrity and security. The high capital investment, associated debt financing and long-term payout horizon of this project does not align with Gran Tierra's current strategy.

02 Mar 15

Philippines: Force majeure granted on Forum Energy's SC72, offshore PhilippinesAIM-listed Forum Energy has confirmed that the Philippine Department of Energy has granted a force majeure on Service Contract 72 (SC72) because the contract area falls within the territorial disputed area of the West Philippine Sea, which is the subject of an United Nations arbitration process between the Republic of Philippines and the People's Republic of China.